KUCHING: The Samalaju Industrial Port has generated a double-digit growth in revenue as it handles more cargoes from energy-intensive industries from Samalaju Industrial Park, Bintulu. In second quarter ended June 30, 2019 (Q2-2019), the speciallybuilt port increased its revenue to RM28.87 million from RM23.78 million in Q2-2018 or up by RM5.09 million or about 18 percent. Over a six-month period in 2019 (H1-2019), the Samalaju Port’s turnover rose to RM54.92 million from RM49.57 million in H1-2018.
The increased contribution from Samalaju Port helped to uplift Bintulu Port Holdings Bhd (BPHB)’s group revenue to RM179.6 million in Q2-2019 from RM158.9 million in Q2-2018 or an increase of RM20.7 million or up by 13 percent.
“The revenue of port services at Bintulu Port recorded RM140.04 million in Q2-2019, mainly contributed from handling of LNG (liquefied natural gas) cargo and vessel calls,” BPHB said in notes to its quarterly results.
“The revenue from bulking facilities is RM10.72 million in Q22019 as against RM10.13 million in Q2-2018. “Revenue from construction services for concession infrastructure of RM4.11 million was recognised in Q2-2019 as against RM1.01 million in Q22018.” In H1-2019, BPHB group revenue climbed to RM358 million from RM326.1 million in H1-2018 or higher by RM31.9 million or 9.78 percent.
In line with increased revenue, BPHB’s group net profit soared to RM21.67 million in Q2-2019 from RM9.44 million in Q2-2018. Earnings per share more than doubled to 4.71 sen from 2.05 sen. In H1-2019, group net profit jumped to RM61.17 million from RM40.65 million in H1-2018. Going forward, BPHB said the handling of LNG cargo and vessel calls will still be the main revenue contributor for the company in H2-2019. “Positive cargoes contribution are expected from crude oil/ condensate and cargoes handled in Samalaju. “Overall, the group expects positive growth in cargoes handled for 2019,” it added.
